Dominic Hill Chartered Accountants

28/09/2026

Thinking about the future of your business?

An Employee Ownership Trust (EOT) can provide an alternative way to plan for succession, while allowing employees to share in the future success of the company.

For the right business, an EOT can offer a number of potential benefits, including:
• A route for existing shareholders to realise value from the business
• Greater employee engagement and long-term stability
• Potential tax advantages where the qualifying conditions are met
• A way to preserve the culture and independence of the business

At Dominic Hill Chartered Accountants, we can help business owners understand how an Employee Ownership Trust could work in practice, including the tax, valuation and structuring considerations involved.

We’ve added more information about EOTs to our website.
https://www.dominichill.co.uk/service/employee-ownership-trusts-eots/

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[email protected]
01323649509

An Employee Ownership Trust (EOT) is a UK-specific ownership structure that enables a company to be owned, on behalf of its workforce, through a trust. Introduced in 2014, the EOT model is designed to facilitate long-term employee ownership while supporting business continuity and succession plannin...

22/09/2026

What a fantastic day at Plumpton Racecourse for Ladies Day on Sunday! 🏇

Dominic Hill Chartered Accountants were delighted to be co-sponsors alongside Thorn Civil Engineers in support of St Wilfrid's Hospice.

We were lucky enough to enjoy the day from our own private box, complete with a three-course meal, and even had a race named after us.

We had the privilege of selecting the Best Turned Out before the race and presenting the trophy to the winning connections afterwards.

It was great to spend the day with our partners, fellow sponsors and guests and we even managed to make an appearance on Sky Sports Racing!

Most importantly, the day was about supporting St Wilfrid’s Hospice and the incredible work they do for people across our local community. The hospice provides vital care and support to people with life-limiting illnesses, as well as their families, and we were very proud to play a small part in helping raise awareness and funds for such an important local charity.

A brilliant day, great company and a very worthwhile cause. Thank you to everyone involved.

05/06/2026

Mileage rate changes!

The recent increase to HMRC’s approved mileage rate is a long overdue change for many business owners and employees who use their own vehicles for work.

From 6 April 2026, the rate for cars and vans increased from 45p to 55p per mile for the first 10,000 business miles in the tax year. The rate for mileage above 10,000 miles remains at 25p per mile.

This means a fairer reimbursement for genuine business travel, particularly given the increased cost of fuel, insurance and servicing.

Claims should be supported by the date of travel, business purpose, start and end locations, and mileage covered. Ordinary commuting does not qualify.

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[email protected]
01323649509

11/05/2026

Trivial benefits.

If you run a UK limited company, trivial benefits are one of the simplest ways to reward staff tax efficiently.

A trivial benefit is a small gift from the business that is exempt from tax and NI, provided a few conditions are met. The cost must be £50 or less per benefit, it cannot be cash or a cash voucher, it cannot be a contractual entitlement and it cannot be given in recognition of work performed.

Typical examples might include a birthday gift, flowers, a bottle of w**e, or a small festive hamper.

Directors have slightly different rules in this area. If you are a director of a close company, the annual exemption is capped at £300 per tax year. In practice, that usually means up to six benefits of £50 each, although you do not have to use the allowance evenly.

Most owner managed companies in the UK are close companies, so this rule catches many directors. If the total goes over £300, the excess will not qualify for the exemption.

Used properly, trivial benefits are a useful planning tool, but the conditions matter. A £50 gift can be exempt; £50.01 cannot.

If you wish to discuss this area, please feel free to contact us.

[email protected]
01323649509